Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 9 pillows and 21 blankets would appear
A) along Billie's production possibilities frontier.
B) inside Billie's production possibilities frontier.
C) outside Billie's production possibilities frontier.
D) at the vertical intercept of Billie's production possibilities frontier.
A
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Comment on the following statement: "Elasticity is constant along a straight-line demand curve"
What will be an ideal response?
A person is dynamically inconsistent if:
A. lapses in self-control never occur. B. his preferences over the alternatives available at some future date do not change as the date approaches or once it arrives. C. he does not always follow through on his plans and intentions. D. All of these are sufficient for dynamic inconsistency.
Piece rate pay is
a. Compensation per dollar of profit of the company b. Compensation per dollar of profit of the division c. Compensation per piece a worker produces d. Compensation per dollar of sales
All externalities are detrimental
a. True b. False Indicate whether the statement is true or false